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Forex: USD/CHF trading near session highs at 0.9343/50

FXstreet.com (Barcelona) - The USD/CHF is trading near session highs Monday (0.9350), having been rejuvenated after a disappointing previous week. During European trading, the pair is now testing the 0.9343/46 level, up a healthy +0.27% thus far.

Given the ascension, the Mataf.net technical analyst team has identified resistive measures of correction at 0.9357, followed by 0.9384, and ultimately 0.9424. A paring of gains will eventually lead to the cross encountering support at 0.9290, ahead of 0.9250, and 0.9223.

“The USD/CHF rebounded sharply to the upside during last week and is table above 0.9295, which is positive and might push the pair further to the upside. Meanwhile, the linear regression indicators are negative and the stochastic is showing overbought signals; as the Double Top Pattern’s affect is still valid.” warns the ICN.com analyst team.

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DBS Group analysts note that Yi Gang, Vice Governor of the People’s Bank of China (PBoC), said last week that the authority is planning to widen the RMB’s trading band in the near future to better reflect market forces.
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Forex: EUR/USD retracing losses to 1.3050

The economic calendar is pretty empty today, and the release of Greece current account didn’t have any impact on the EUR/USD. The pair rose to 1.3075 resistance before falling to 1.3035 area on the European opening. Such area is acting as support as the session unfolds and now the EUR/USD is now getting back to Friday’s close at 1.3057.
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